Mar 29, 2022 08:20 PM

Tech Insider: EV Firms Lose More Cash, Another Tech Firm Downsizes

China Youzan, a startup that sells WeChat marketing and payment tools to online merchants, is laying off a fifth of its staff. Photo: VCG

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

E-commerce services provider Youzan sheds staff as losses widen

China Youzan Ltd., a startup that sells WeChat marketing and payment tools to online merchants, is laying off a fifth of staff.

It’s the latest firm to downsize in a sector facing mounting headwinds.

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